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Australian (ASX) Gold Industry Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies151
  • 7D-16.2%
  • 3M-12.6%
  • 1Y46.9%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 16%, driven by a pullback from Northern Star Resources of 29%. Meanwhile, Dateline Resources actually outperformed within the industry, gaining 25% in the last week. This takes the industry's 12 month performance to a gain of 47%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Mar 2026AU$140.6bAU$32.2bAU$6.6b17.5x21.4x4.4x
Sun, 15 Feb 2026AU$178.6bAU$27.7bAU$5.2b25.4x34.2x6.4x
Tue, 13 Jan 2026AU$169.2bAU$26.4bAU$4.6b27.1x37x6.4x
Thu, 11 Dec 2025AU$152.3bAU$26.4bAU$4.6b24.8x33.3x5.8x
Sat, 08 Nov 2025AU$138.6bAU$26.4bAU$4.6b23.9x30.2x5.2x
Mon, 06 Oct 2025AU$143.8bAU$26.4bAU$4.6b22.8x31.4x5.5x
Wed, 03 Sep 2025AU$120.2bAU$26.8bAU$4.9b17.8x24.7x4.5x
Fri, 01 Aug 2025AU$92.9bAU$22.4bAU$3.2b16x29.1x4.1x
Sun, 29 Jun 2025AU$101.3bAU$22.4bAU$3.1b16.2x32.5x4.5x
Tue, 27 May 2025AU$106.7bAU$22.3bAU$3.1b19x34.5x4.8x
Thu, 24 Apr 2025AU$92.0bAU$22.1bAU$3.0b18.6x30.5x4.2x
Sat, 22 Mar 2025AU$83.8bAU$22.2bAU$3.0b17.8x27.6x3.8x
Mon, 17 Feb 2025AU$79.9bAU$20.1bAU$2.4b21.5x33.7x4x
Wed, 15 Jan 2025AU$75.6bAU$18.7bAU$1.8b19.8x41.5x4x
Fri, 13 Dec 2024AU$76.5bAU$18.6bAU$1.8b22.7x42.3x4.1x
Sun, 10 Nov 2024AU$72.7bAU$18.4bAU$1.8b20.1x40.4x3.9x
Tue, 08 Oct 2024AU$67.3bAU$18.4bAU$1.8b21.4x37.7x3.7x
Thu, 05 Sep 2024AU$61.4bAU$18.2bAU$1.6b20.5x38.7x3.4x
Sat, 03 Aug 2024AU$60.2bAU$16.1bAU$1.1b22x54.3x3.7x
Mon, 01 Jul 2024AU$55.6bAU$16.0bAU$1.1b20.9x51.6x3.5x
Wed, 29 May 2024AU$60.0bAU$17.1bAU$1.2b21.2x50.6x3.5x
Fri, 26 Apr 2024AU$58.2bAU$17.2bAU$1.2b21.8x48.6x3.4x
Sun, 24 Mar 2024AU$52.8bAU$16.9bAU$1.2b17.7x42.9x3.1x
Tue, 20 Feb 2024AU$48.5bAU$15.6bAU$273.6m22.4x177.1x3.1x
Thu, 18 Jan 2024AU$71.1bAU$22.9bAU$1.3b22.6x52.8x3.1x
Sat, 16 Dec 2023AU$75.4bAU$22.9bAU$1.3b24.6x56x3.3x
Mon, 13 Nov 2023AU$70.4bAU$22.9bAU$1.4b22.1x52x3.1x
Wed, 11 Oct 2023AU$69.5bAU$23.0bAU$1.4b21.5x51.2x3x
Fri, 08 Sep 2023AU$68.0bAU$22.9bAU$1.5b18.7x45.9x3x
Sun, 06 Aug 2023AU$68.8bAU$22.4bAU$568.1m17.1x121.2x3.1x
Tue, 04 Jul 2023AU$70.5bAU$22.3bAU$559.8m17.4x126x3.2x
Thu, 01 Jun 2023AU$69.4bAU$22.5bAU$614.7m17.9x113x3.1x
Sat, 29 Apr 2023AU$75.8bAU$22.4bAU$591.4m19.3x128.1x3.4x
Mon, 27 Mar 2023AU$67.5bAU$22.3bAU$581.5m15.6x116.1x3x
Price to Earnings Ratio

116.1x


Total Market Cap: AU$67.5bTotal Earnings: AU$581.5mTotal Revenue: AU$22.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 59.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.4x which is lower than its 3-year average PE of 59.9x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 124% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market-1.91%
Materials-8.26%
Metals and Mining-8.67%
Gold-16.17%
Steel-2.44%
Aluminum-6.13%
Diversified Metals and Mining-6.87%
Copper-7.01%
Precious Metals and Minerals-12.75%
Silver-21.71%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DTR Dateline ResourcesAU$0.4824.7%
+AU$346.1m		11,900.0%PS1369.8x
LRM Lion Rock MineralsAU$0.0249.1%
+AU$7.1m		140.0%PS8632x
CTO CitigoldAU$0.01812.5%
+AU$6.0m		350.0%PS1800x
SLS Solstice MineralsAU$0.924.5%
+AU$5.9m		425.7%PB5.9x
TSO Tesoro GoldAU$0.950.5%
+AU$895.0k		105.4%PS1137.8x

Latest News

VAU
AU$4.13
Vault Minerals
7D
-18.5%
1Y
36.6%
RRL
AU$6.36
Regis Resources
7D
-19.9%
1Y
74.7%

RRL: Higher Margins And Production Outlook Will Support Attractive Future Upside

Analysts have lifted their fair value estimate for Regis Resources by A$1.00 to A$11.00, linking the change to updated assumptions for revenue growth, profit margins, and a lower future P/E multiple. What's in the News Regis Resources reported gold production of 186,917 ounces for the first half ended 31 December 2025, compared with 195,801 ounces in the prior year period (Announcement of Operating Results).
PRU
AU$4.76
Perseus Mining
7D
-11.7%
1Y
49.2%

PRU: Cost Discipline And Project Execution Will Support Upside Potential

Analysts have trimmed their fair value estimate for Perseus Mining by A$0.00 to A$6.47, reflecting slightly higher discount rate assumptions and more cautious profit margin expectations after recent research turned more bearish on the shares. Analyst Commentary Bullish Takeaways Bullish analysts see the refined fair value estimate of A$6.47 as still supportive of upside potential if Perseus Mining can deliver on cost control and project execution targets.
NST
AU$18.96
Northern Star Resources
7D
-29.2%
1Y
3.6%
SLS
AU$0.92
Solstice Minerals
7D
4.5%
1Y
425.7%
RND
AU$2.46
Rand Mining
7D
0.4%
1Y
49.1%
LRM
AU$0.024
Lion Rock Minerals
7D
9.1%
1Y
140.0%
TSO
AU$0.95
Tesoro Gold
7D
0.5%
1Y
105.4%
DTR
AU$0.48
Dateline Resources
7D
24.7%
1Y
11,900.0%
EVN
AU$12.21
Evolution Mining
7D
-12.5%
1Y
77.5%

EVN: Updated Commodity Assumptions And Dividend Outlook Will Support Stronger Future Profitability

Narrative Update on Evolution Mining The analyst fair value estimate for Evolution Mining has shifted from A$14.25 to A$18.25, with analysts pointing to updated commodity price decks and refreshed gold and precious metals models. These updates have also led to higher price targets in recent Street research.
CMM
AU$10.48
Capricorn Metals
7D
-15.6%
1Y
27.6%
GMD
AU$5.51
Genesis Minerals
7D
-17.3%
1Y
53.1%
RMS
AU$3.61
Ramelius Resources
7D
-14.3%
1Y
65.6%
SNG
AU$0.092
Siren Gold
7D
1.1%
1Y
70.4%
GGR
AU$0.29
Golden Globe Resources
7D
1.7%
1Y
n/a
CTO
AU$0.018
Citigold
7D
12.5%
1Y
350.0%

Citigold (ASX:CTO) Is Carrying A Fair Bit Of Debt

Oct 02
Citigold (ASX:CTO) Is Carrying A Fair Bit Of Debt